SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 2.20%.

As we have mentioned last week that minor support for the stock lies in the zone of 535 to 540. Support for the stock lies in the zone of 520 to 525 where break out levels for the stock is lying. If the stock manages to close below these levels then the stock can drift to the levels of 490 to 495 where the stock has formed a bottom in the month of May-2017. During the week the stock manages to hit a low of 534 and close the week around the levels of 556.

Minor support for the stock lies in the zone of 545 to 550. Support for the stock lies in the zone of 520 to 525 where break out levels for the stock is lying. If the stock manages to close below these levels then the stock can drift to the levels of 490 to 495 where the stock has formed a bottom in the month of May-2017.

Resistance for the stock lies in the zone of 565 to 570 from where the stock has opened gap down and lows for the month of November – 2016 is lying. If the stock manages to close above these levels then the stock can move to the levels of 600 to 605.

Broad range for the stock in the coming week can be 535 – 540 on lower side & 570 – 575 on upper side.